Peloton (NASDAQ:PTON) stock is falling on Thursday despite the company announcing its fitness bikes are coming to Dick’s Sporting Goods (NYSE:DKS).
According to a press release, Dick’s Sporting Goods will carry the Bike, Bike+, Tread and Guide. The retailer will also sell several accessories from Peloton as well. This will make it the only brick-and-mortar retailer carrying these products outside of PTON’s own stores.
This introduction of Peloton products to Dick’s Sporting Goods locations is limited in nature. Only 100 physical stores will keep the products in stock. However, the goods will also be available on its e-commerce website.
PTON Wants to Reach New Customers
Jen Parker, senior vice president of Global Sales at Peloton, said the following about the news.
“This partnership is a natural fit for our brand and our Member acquisition goals. DICK’S is a consumer-beloved brand with a large, incremental customer base, offering tremendous upside for us to reach broader audiences and attract potential new Members.”
Despite today’s announcement, trading of PTON stock is weak. Only about 6 million shares have changed hands as of this writing. That’s still a ways off from its daily average trading volume of roughly 15 million shares.
PTON stock is down 13.7% as of Thursday morning and is down 79.2% year-to-date.
Investors seeking out more recent stock market news will want to stick around!
InvestorPlace is home to all of the latest stock market news for Thursday! Among that is what has Porsche Automobile (OTCMKTS:POAHY), Bed Bath & Beyond (NASDAQ:BBBY) and Blue Apron (NASDAQ:APRN) shares in the news today. You can find out more on these matters below!
More Thursday Stock Market News
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- What Is Going on With Blue Apron (APRN) Stock Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.